Acrisure LLC has closed the acquisition of 100% of Beach & Associates following the receipt of all necessary regulatory approvals, according to a statement posted on the Insurance Journal.
Beach is an independent re/insurance brokering and advisory firm that operates in London, Zurich, Bermuda, Toronto, North Carolina, Chicago and New York. Acrisure acquired Beach from its existing shareholders, which included Aquiline Capital Partners LLC.
Further details of the transaction were not disclosed.
Beach will retain its name, identity and business strategy and will continue to operate as an independent advisory and transactional broking business within Acrisure. Beach's existing management team will remain in place and it has elected to become shareholders in Acrisure.
